EBRD to provide long-term credit LLC "Merefa Glass Company."

European Bank for Reconstruction and Development (EBRD) will provide long-term loan of € 20 million, LLC "Merefa Glass Company" (Merefa, Kharkiv region.), Controlled by the Turkish company Turkiye Sise ve Cam Fabrikalari AS (Sisecam).

According to Interfax, the decision adopted by the bank's board of directors meeting on Wednesday, June 25, 2014.

Earlier, the EBRD said that the company plans to use the raised funds to refinance existing loans and working capital.

As reported, the group of companies Development Construction Holding (DCH), controlled by Alexander Yaroslavsky, at the end of February 2011 completed the sale Merefa Glass company Sisecam nearly € 32 million

Sisecam is the largest Turkish glass manufacturer, operating in 13 countries. Controlling stake in the company in the amount of 72% owned Turkiye Is Bankas? AS (Isbank), and 28% - Borsa Istanbul.

LLC "Merefa Glass Company" - the leading enterprise of Kharkiv region producing glass. Glassware factory was founded in 1896. From 2006 to 2008, the company has been fully modernized. In 2008, the opening of new production halls glass factory, which has financed the construction of a group of DCH.

Net income of the company in 2012 increased by 9.2% - to UAH 193.02 million and a net loss increased by 3.5 times - up to 81.14 million USD. Data for 2013 are not yet available.